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Factoring is a financial product that assigns the deferred receivables of companies arising from the sale of the products or services. Basically, three different types of services, namely financing, receivables guarantee and collection management, are offered together or separately based on your needs. Factoring is usually divided into two categories as domestic factoring and international (export) factoring.
What is Factoring? How Does it Work?
WHAT ARE THE ADVANTAGES OF FACTORING?
While factoring, thanks to its solutions, offers the companies in the country and abroad an opportunity for a safe and sustainable growth, it also supports the real economic of our country. Factoring advantages may vary depending on the usage, however, there are seven main advantages
- Secure open account and credit buying/selling opportunity with receivables guarantee
- Flexible financing for deferred receivables
- Cash flow and working capital optimization
- Secure sales and business development chances specifically in the international markets, thanks to it intelligence service.
- Collection support
- Providing companies the time and cash needed in order to focus on business development by taking their operational burdens such as follow up and collection functions off their shoulders.
- Affordable costs accompanying the opportunity to purchase raw materials in advance.
WHAT ARE THE STAGES OF FACTORING?
1 RECEIVABLES GUARANTEE
In the event where the risk of non-payment of the receivables is assumed by the factoring company, the factoring company pays the amount within the specified limit under the receivable guarantee covered by the agreement as based on the factoring service taken,
2 COLLECTION FOLLOW UP
The factoring company provides financing services to its customer based on the receivables which are subject to the factoring transaction. Moreover, it also follows up the collection of the receivables on their due dates.
3 START OF THE PROCESS
The factoring agreement is signed based on the acceptance of the offer by the customer. The factoring company starts to provide services to the customer under the agreed favorable conditions.
4 OFFER
Factoring solutions tailored to the needs of the companies are determined together, and the factoring company presents an offer to the customer.
5 APPLICATION
The companies that desire to benefit from the factoring services (financing, receivables guarantee and collection) for their deferred receivables apply to the factoring company with the required information and documents.
WHAT IS DOMESTIC FACTORING?
Domestic factoring is a factoring service arising from the trade between you and the buyer within the borders of the same country, which provides quick cash in exchange for your deferred receivables, invoiced checks & bills
WHAT IS EXPORT FACTORING?
International factoring, in other words export factoring, is a factoring service provided in return for your deferred receivables arising from the export items to different countries.
FREQUENTLY ASKED QUESTIONS
WHAT IS FACTORING?
Factoring is a fast and flexible alternative financing product that takes over the invoiced deferred receivables arising from the domestic and international sales of the products or services of the companies and offers need-focused financing, factoring guarantee for the receivables and collection services separately or together. Factoring services are divided into three main groups.
1. Financing;
2. Factoring Guarantee;
3. Receivables Management.
I AM WORKING ON OPEN ACCOUNT BASIS, I WAIT TILL THE END OF THE MATURITY FOR PAYMENT. CAN I COLLECT THESE RECEIVABLES FROM TEB FAKTORING BEFORE THEIR DUE DATES?
Yes. You can apply to TEB Faktoring for all term receivables arising from your domestic or international trade in line with your needs and business model and the payment can be collected without waiting for the maturity, if deemed to be appropriate as a result of the evaluation carried out.
WHO CAN USE FACTORING?
All businesses, from the smallest to the largest, producing and selling products and/or services of any scale can benefit from the factoring services for their deferred receivables
I AM NOT WORKING WITH TEB, CAN I STILL WORK WITH TEB FAKTORING?
Yes, you can work.
WHO ARE THE PARTIES OF THE FACTORING TRANSACTION?
In general, the parties involved in the factoring transaction are the buyer company, seller company and the factoring company. In the model involving 2 factoring companies, which is a type of export factoring service, there can be four parties as the buyer, seller, export factoring company and the import factoring company.
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TO START YOUR PROCEDURE
simply apply for factoring from anywhere you want.
IF YOU ARE AN EXISTING CUSTOMER
You can easily follow your online factoring transactions.
ONLINE BRANCH
Check our online branch to learn the easiest way to track your online factoring transactions.
QUICK APPLY
Submit the details of your postpaid check for your online factoring application and get the cash you need immediately.
MOBILE APPLICATION
Learn the most practical way to get cash by applying for factoring online from anywhere you want
